Dunamu Pushes for Biodiversity Conservation Through NFT Project

Australian venture capitalist and founder of MHC Digital Group, Mark Carnegie, is optimistic about bitcoin's potential for a bullish trend, while believing that Asia will be the real force driving the market beyond the exchange-traded fund (ETF) approval hype in the United States.Photo by Hans Eiskonen on Unsplash$50,000 bitcoin retestIn a recent interview with CNBC, Carnegie expressed his belief that bitcoin is "clearly primed for a bit of a run and a retest to $50,000." The bitcoin unit price stood at around $43,600 at the time of the interview. At the time of writing, it’s weighing in at $46,773. While there’s likely to be considerable resistance in the leading cryptocurrency getting past the psychologically important $50,000 level, the digital asset is certainly heading in the direction that Carnegie had predicted. Looking ahead, Carnegie shared his short-to-medium-term outlook, stating:"So my feeling is short term, long, medium term, which is, you know, 30 to 90 days, probably a retrace." This suggests that Carnegie anticipates a positive trajectory for bitcoin in the coming months, likely as an initial response to a spot bitcoin ETF approval in the U.S. Last week a report from Singapore-based digital asset financial services firm Matrixport speculated that spot bitcoin ETF applications would be rejected as they have been over the past few years. Market risk factorsHowever, he also voiced concerns about the current state of the U.S. equity markets and potential recession indicators. Reflecting on the recent miss on payrolls, Carnegie commented:"I feel like that miss on payrolls last week makes me feel like there's a big flip. And everyone's going to start panicking about a recession." Despite the uncertainty in traditional markets, Carnegie remains optimistic about bitcoin's performance. When asked about the specific impact on cryptocurrencies, he admitted, "How's that going to affect crypto? I don't really know." In a blog post published last Friday, Arthur Hayes, the CIO of Hong Kong-based family office Maelstrom, similarly points to market turbulence in the short to medium term while remaining bullish on bitcoin over the longer term. An Asia-powered bull runCarnegie highlighted the influence of spot bitcoin ETFs and suggested inflows, noting that there are more net flows from Asia than the U.S. He stated:“You could easily see $50 - $100 billion in net new flow out of Asia this year, and if that happens..!” He mentioned the anticipation of approximately $5 billion waiting to come into the U.S., characterizing it as substantial but perhaps not as impactful as expected in the short term. "It's an Asian story this time round,” Carnegie claimed. Carnegie also expressed a preference for bitcoin over Ethereum in the current financial landscape. He stated:"Bitcoin feels more solid to me at the moment. So on a relative basis, I can talk like I can talk to you. I feel like for the next little while, Bitcoin feels better to me than Ethereum." Mark Carnegie's positive outlook on bitcoin's potential rally to $50,000 aligns with his preference for bitcoin over Ethereum in the current market conditions, despite concerns about the broader economic landscape.  

China and Singapore collaborate on cross-border digital yuan transactionsTaking yet another stride toward globalizing the e-CNY currency, China’s central bank has unveiled a pilot program in collaboration with its Singaporean counterpart, enabling tourists from both countries to use the digital yuan for transactions when traveling.Photo by Eric Prouzet on UnsplashSeries of initiativesThis move is part of a series of initiatives unveiled by the two governments during a Joint Council for Bilateral Cooperation event which was held in Tianjin, China, last week. Among the announced measures is a mutual 30-day visa-free travel arrangement, one of 24 deals signed to strengthen bilateral ties between China and Singapore.The Monetary Authority of Singapore (MAS) disclosed in a statement that it had collaborated with the Digital Currency Institute of the People’s Bank of China (PBOC) for this initiative. The program aims to facilitate the use of the digital version of the Chinese currency for tourist spending, enhancing convenience for travelers during their overseas trips. While specific details about the scheme were not disclosed, it represents a collaborative effort to promote cross-border transactions using the digital yuan.Internationalizing the digital yuanIn its reporting on the announcement, the South China Morning Post (SCMP) pointed to the views of Richard Turrin, an independent financial technology consultant and author of “Cashless: China’s Digital Currency Revolution.” Turrin sees the digital yuan collaboration as a promising opportunity for cross-border retail use. He suggests that starting with small transactions, such as those by tourists, could pave the way for broader applications in trade and other high-value scenarios.In an editorial back in November, the SCMP referred to the birth of the Petro-Yuan, speculating that the era of the Petro-Dollar is coming to an end. “In a global political economy long dominated by the petrodollar, this could be the beginning of a seismic shift,” the editorial stated. The internationalization of the e-CNY will likely be a key aspect of that overall monetary sea change.Over 5 years in developmentChina initiated digital yuan testing in 2019, and although an official launch timetable has not been confirmed, adoption has accelerated recently. Former PBOC governor Yi Gang reported that total e-CNY transactions reached 950 million yuan ($133 million) in June, with a cumulative value of 1.8 trillion yuan compared to 100 billion yuan in August 2022. This indicates a substantial increase in digital yuan transactions.The momentum extends beyond mainland China, with Beijing exploring CBDC usage internationally. The mBridge trial, completed last year, involved multiple countries using central bank digital currencies to settle trades, including Hong Kong, Thailand and the United Arab Emirates.In June, authorities in China’s resort city of Sanya introduced e-CNY ATMs so that foreign visitors could buy the digital yuan and use it during their time in China. Another initiative aims to encourage further use of the digital currency within the Chinese autonomous territory of Hong Kong. In July, the Hong Kong arm of the Bank of China rolled out a digital yuan shopping festival in Hong Kong, allowing visitors to Hong Kong from mainland China to make purchases using the digital yuan.

Iranian authorities last week introduced new restrictions on stablecoin transactions, limiting individuals to an annual purchase cap of $5,000 and a total holding limit of $10,000. According to a report from Iran International, licensed digital platforms have one month from the effective date to enforce these new regulations on all users.Photo by Hadis Malekie on UnsplashRial decline fuels stablecoin uptakeThe move coincides with the continued devaluation of the national currency, with the Iranian rial reaching an all-time low of 1,136,500 per U.S. dollar on Sept. 27. This currency plunge occurred just before the reimposition of United Nations sanctions, which took effect at 00:00 UTC on Sept. 28. Since then, the rial has weakened further, reaching a new low of 1,170,000 per U.S. dollar as of publication, as per data from Bonbast.  For many Iranians, stablecoins like USDT have become an essential financial tool, providing a hedge against inflation and a means to transfer funds internationally, bypassing the traditional banking system. The adoption of these U.S. dollar-pegged digital assets has reportedly grown since the escalation of conflicts with Israel and the U.S. earlier in the year. These new financial controls follow recent actions by the U.S. to counter what it describes as Iranian "shadow banking" networks. On Sept. 16, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned two Iranian financial operatives and their network of companies in Hong Kong and the United Arab Emirates (UAE). A press release stated these entities used cryptocurrency and front companies to transfer funds from oil sales, benefiting Iran’s IRGC-Qods Force (QF) and its Ministry of Defense and Armed Forces Logistics (MODAFL). The U.S. Treasury asserts these funds are funneled into regional proxy groups and the development of advanced weapons programs.U.S. dollar to rial chart Source: BonbastHack on Iran’s top crypto platformIran’s private digital currency sector has also faced mounting security pressures. In June, Nobitex, the country’s largest crypto exchange, was hit by a major exploit that drained about $90 million in assets, including Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), Tron (TRX), and TON. A pro-Israel hacker group known as Predatory Sparrow, or Gonjeshke Darande, later claimed responsibility in a post on X. The attack took place during heightened military tensions that began with Israeli strikes on Iranian military and nuclear facilities on June 18, 2025. According to analysis by TRM Labs, digital assets are increasingly integral to Iran's efforts to navigate international sanctions and advance its geopolitical interests. Iranian exchanges, including Nobitex, process billions in cryptocurrency transactions. These platforms have been noted for permitting large withdrawals without stringent Know Your Customer (KYC) protocols and for employing sophisticated methods to obscure the origins and destinations of funds. At the same time, these exchanges are not used solely for state-level purposes. For many ordinary Iranians, grappling with inflation and economic isolation, digital assets represent a practical tool for safeguarding savings and maintaining limited access to the global economy, underscoring the dual role that cryptocurrency plays in the country.